Lloyds takes further hit on mis-sold insurance

Lloyds Banking Group announced third-quarter underlying pretax profit of £1.5 billion ($2.4 billion), up from £831 million the year before and meeting analysts' expectations as its chief executive hailed an "important" nine months for the the U.K. retail lender.

The bank, which is 33 percent owned by the U.K. taxpayer, also announced an additional charge of £750 million over the mis-selling of loan payment protection insurance.

The bank's share price has nearly doubled in the past year, as it launched a successful share sale, a key milestone in concluding the era of U.K. government ownership. It has also sold off assets in Australia and is brokering a deal with Aberdeen Asset Management to sell off fund management arm Scottish Widows Investment Partnership - and may even resume dividend payouts next year.

"The nine months to the end of September have been important for the group," chief executive Antonio Horta-Osorio said in a statement, adding that the bank was on its way to "becoming a better, simpler, low-risk bank".